Philip Walton, president of Cambridge Associates, said in a telephone interview that the outperformance of those endowments with more than 15% allocated to private investments, is “true across almost all time periods… In terms of why this is important, first and foremost, certainly in a low growth environment, a simple stock and bond (allocation) is less likely to get investors the returns they need,” Mr. Walton said. “Private investments provide a proven solution to that.” Click here to read the article.